Iran Begins Bidding for Oil and Gas Projects

Iran will begin taking applications on Monday for an unspecified number of energy projects, the oil ministry's news agency SHANA reported on Sunday, as the country moves to launch exploration and production contracts after the lifting of sanctions.

State-run National Iranian Oil Company (NIOC) said "reputable and eligible companies" should fill the applications for upstream oil and gas projects which will be made available on its website nioc.ir, SHANA said.

NIOC signed the first oil output contract under the new, less restrictive Iran Petroleum Contract (IPC) model earlier in October with a firm identified by the United States as part of a conglomerate controlled by Iran's supreme leader.

Source: Global Oil & Gas
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